He said: “The popularity of virtual cats fits the euphoria we see elsewhere in the crypto-currency space. It feels very reminiscent of the Candy Crush craze that helped propel the King Entertainment IPO back at the peak of the ‘Unicorn’ era in mid 2014.”

CyrptoKitties developers believe it will thrive because unlike Bitcoin, players will still have the value of their kitties secured on the Ethereum blockchain, even if the game and its creators disappear.

But there are risks with this cryptocurrency. Each time traffic to the network rises, CryptoKitties experiences a transaction backlog, so kitty fans are forced to wait for their new pets to be issued – which could affect how much money they earn.

Since the cryptocurrency is still in its infancy, its value is extremely volatile. Experts urge users to only invest money that they can afford to lose.

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